In a significant milestone for West African fintech, NALA has officially received regulatory approval from the Bank of Ghana to launch its remittance services in the country. This expansion is powered by a strategic partnership with BigPay, a licensed local Payment Service Provider (PSP).

The approval, issued via a ‘Letter of No Objection’ (LONO), allows NALA and BigPay to formally process cross-border payments, deepening NALA’s footprint in one of Africa’s most active remittance corridors. In 2024 alone, Africa received approximately $96.4 billion in remittances, with Ghana ranking as the fifth-largest recipient on the continent, bringing in over $4.6 billion annually.

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Infrastructure-First Expansion

The partnership is built on technical synergy. BigPay provides the underlying infrastructure, including bank-grade APIs and settlement capabilities, enabling NALA to deliver payouts directly to local Ghanaian bank accounts and mobile money wallets.

“At NALA, we believe financial infrastructure must be built alongside trusted licensed institutions,” said Benjamin Fernandes, Founder and CEO of NALA.

“BigPay’s capabilities and reputation make them a natural partner for our mission. With this approval, we’re not just expanding access; we’re strengthening the resilience and transparency of Ghana’s financial ecosystem.”

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Beyond Remittances: The Rafiki Evolution

While NALA is widely known for its consumer-facing money transfer app, the company is increasingly positioning itself as a broader payments infrastructure player. Its B2B platform, Rafiki, allows enterprises to make payments into and out of African markets through a single API – a move that mirrors the growing trend of “Financial Rails” designed specifically for the African diaspora and local businesses.

This latest approval adds to NALA’s growing list of regulatory permissions across the US, UK, EU, and more recently, Asia, signaling a disciplined, compliance-first approach to global expansion.

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